As governments shape their responses to the coronavirus pandemic, the economic impact of the crisis is growing. In the U.S., the surge in unemployment claims is four times greater than the previous peak. Germany, where the effects of the virus started earlier than in the U.S. thanks to its proximity and partnership with Italy, probably fell into a recession in March. Indeed, April is poised to be the worst month for the German economy in peacetime. How effective will government economic responses to the crisis be for workers, for small businesses, and for large corporations, and what will it mean for the global economy more broadly?
On this episode of The Zeitgeist, Jeff Rathke and Peter Rashish are joined by Holger Schmieding, Chief Economist for Berenberg Bank, to discuss the coronavirus crisis. They discuss the impact on globalization, whether European cooperation is effective, and how the crisis could affect perceptions of the German economic model. Should the U.S. be doing more to shape the international response to the crisis? And will the coronavirus spur innovation and technological advances?

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Host
Jeff Rathke, President, AICGS
Guests
Holger Schmieding, Chief Economist, Berenberg
Peter Rashish, Senior Fellow and Director, Geoeconomics Program, AICGS